Minister Freeland visits Victoria ahead of fed budget

Canada’s Finance Minister and Deputy Prime Minister Chrystia Freeland made a surprise visit to Victoria on Monday for a meeting with BC Premier David Eby.

With the federal budget coming on April 16, Freeland was in town to promote her government’s investment in housing across Canada.

“For me, it’s actually pretty simple,” Freeland said at a media event ahead of her meeting with Eby. “It’s housing, housing, housing. Supply, supply, supply, affordability, a strong economic plan that delivers great jobs and a real focus on younger Canadians.”

Freeland stated $34 million in federal funding has helped create homes in Greater Victoria — something the Greater Victoria chamber continues to call for to help our region meet the demand at the root of housing affordability.

Freeland highlighted Sawyer Block on Fort Street, which has 60 rental apartments, and a project in Cook Street Village that helped build 47 rental apartments.

“Through the Apartment Construction Loan Program, we will also be offering low-cost loans to post-secondary institutions — like the University of Victoria … so that they can build more student housing on- and off-campus,” Freeland said in her presentation. “This will help more students to find housing they can afford close to where they study, and at the same time, it will mean that there are more homes available for those who live in those same communities year-round.”

Adding on-campus housing is another long-standing chamber advocacy priority, Chamber CEO Bruce Williams said.

“This is a big win for our advocacy work. We know that one of the biggest challenges for building homes in Greater Victoria is our land constraints,” Williams said. “Post-secondaries have the space. They need the right financing to make housing work and this is part of that solution.”